QSO 321 Module Three Assignment Template

School: Southern New Hampshire University - Course: QSO 321 - Subject: Accounting

QSO 321 Module Three Assignment Template Accounting and Finance Internal Stakeholders

StakeholderRoleResponsibilitiesInfluence CEOProvides vision,direction, and high-level strategicdecisions for anorganizationResponsible toemployees, customers,the board of directors,and other stakeholdersfor decisions madeabout and for theorganizationInfluences strategic initiatives, goals, values, and investments of the overall organization internally; these include those that impact revenue streams, costs, investment into employees, the elimination of waste, and the overall impact of the organization Can approve or create organizational initiatives that provide resources needed to strengthen TBL alignment in the organization ShareholdersHave a financial stakein the company &interested in itsfinancial performance.(Fernando, 2023)Investing incompanies,overseeing theirfinancial performance,& holding themaccountable for theiractions.(Fernando,2023)Responsible to ensurethat the company isfinancially viable &making a profit.(Fernando, 2023)Advocate forsustainable practices,invest responsibly & tohold companiesaccountable for theirsocial & environmentalimpact in regards tothe TBL framework.(Fernando, 2023)Vote for board members who prioritize sustainability & the TBL framework. (Fernando, 2023) Divest from companies that do not prioritize sustainability & the TBL framework, which can impact the company's reputation & financial performance (Fernando, 2023) Use their position to pressure the company to adopt sustainable financial practices that align with the TBL framework.(Fernando, 2023) ManagersFinancial planning,analysis & reportingAssess & manage risksCash management &taxationFinancial decisionmakingResponsible foroverseeing financialoperations & managingbudgets, along withanalyzing financial dataEnsuring that theorganization compliesMeasure, report, & integrate TBL performance into decision making, assess risks & opportunities related to TBL factors, engage

External Stakeholders StakeholderRoleResponsibilitiesInfluence CustomersEnforcing andmaintainingoperationalsustainability(Torrens University,2023)Interested in thecompany's socialresponsibilitypractices, includingethical sourcing,fair labor practices,& communityengagement(Torrens University,2023)Interested in thecompany'sfinancial stability,transparency, &sustainability.(Torrens University,2023)Prioritize specificaspects of the TBLframework basedon their values &expectations fromthe company(Torrens University,2023)Can make decisions about whether to continue doing business with companies that do not prioritize the TBL.(Torrens University, 2023) Enforce requirements by demanding sustainable practices from the organizations they patronize.(Torrens University, 2023) Sharing info & raising awareness about the importance of sustainability (Torrens University, 2023) CreditorsIndividuals orentities that lendmoney to thecompanyInterested in thecompany'sfinancial health &the ability to repaydebts.Can encourage theadoption ofsustainablepractices byprovidingpreferentialinterest rates orfinancing terms tocompanies thatprioritizesustainability.(IMA, 2023)creditors can alsorequire thatcompanies disclosetheir sustainabilityperformance &provide evidenceof their efforts toreduce theirenvironmentalfootprint & socialimpact(IMA, 2023)creditors can hold companies accountable for their sustainability performance & ensure that they meet their obligations towards the environment, society, & future generations.(IMA, 2023) opportunity to promote sustainable practices & encourage the adoption of the TBL in the companies they finance, thereby contributing to a

StakeholderRoleResponsibilitiesInfluence more sustainable & responsible economy.(IMA, 2023) Government AgenciesEnsure thatcompanies complywith accountingpolicies &procedures,financial reporting,& tax regulationsSet standards,provide incentives& supportingresearchEnforcingenvironmentalregulations toensure that thecompany operatessustainably.(InternationalFinanceCorporation,2023)Establish standardsfor TBL reportingthat organizationsmust adhere to.Examples: GlobalReporting Initiative(GRI) or theSustainabilityAccountingStandards Board(SASB).(InternationalFinanceCorporation,2023)Ensure that theaccounting &financial industriesprioritizesustainabilityalongside financialperformance.(InternationalFinance Corporation,2023) Mandating reporting requirements (International Finance Corporation,2023) Providing incentives. For example, tax credits or grants may be offered to organizations that invest in renewable energy or implement sustainable practices. (International Finance Corporation,2023) Government agencies can provide funding for research & development related to TBL practices & reporting. (International Finance Corporation,2023)